"IF WE'RE LUCKY, WE'LL BUILD SOMETHING HALF AS MEMORABLE AS BIOSHOCK."
The shut down will not be happening until after the last of the DLC for BioShock Infinite is finished. With this new venture Levine is planning, he will be bring all but 15 members of his team from Irrational Games.
Levine said,"Initially, I thought the only way to build this venture was with a classical startup model, a risk I was prepared to take, but when I talked to Take-Two about the idea, they convinced me that there was no better place to pursue this new chapter than within their walls. After all, they're the ones who believed in and supported BioShock in the first place."
Take-Two will handling the future of BioShock. I'm sure they will be handing it down to a studio they trust as they did for BioShock 2, who was made by 2k Marin. Only time will tell what will become of BioShock. One can only hope that if, when, and who makes a new BioShock, that it will have the same feel and great story telling as the past games.